(News Bulletin 247) – The New York Stock Exchange should open lower on Tuesday morning, overtaken by an awakening of concerns surrounding the Chinese economy after disappointing statistics came to revive fears around global growth.

Half an hour before the opening, the futures contracts on the major New York indices yield between 0.5% and 0.7%, the premise of an opening in the red.

Several statistics released overnight showed that consumption, like activity in the industrial sector, fell short of market expectations last month.

Faced with the loss of momentum in the recovery, the People’s Bank of China (PBC) even decided to cut the interest rate on its medium-term credit facility for the second time in three months.

These new signs of deterioration in the Chinese economy should weigh, among other things, on high-tech stocks, such as Apple, which generate a large part of their turnover in China.

These statistics are worrying the market at a time when investors are wondering if the Fed could not raise its rates again, a prospect that does not encourage much risk-taking.

On the bond market, the yield on ten-year US Treasury bonds continues to rise and takes more than five basis points to more than 4.23%, its highest level since the summer of 2007.

The general upturn in risk aversion in global markets outweighed the better than expected consumer figures released earlier this morning.

Retail sales rose 0.7% sequentially in July, beating the consensus that was aiming for a 0.4% rise, after rising 0.3% the previous month.

Moreover, Home Depot gave up some ground in pre-opening despite quarterly results that exceeded expectations and the announcement of the launch of a gigantic share buyback program.

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